10 Tips to Protect Your Internet Merchant Account From Fraud

Despite the fact that there are a host of e-paymentfraud is on the online vendor. So, if you are an online
options out there, it still is a plain fact that the creditretailer with an internet merchant account, take a look
card is the internet's chief currency. Research hasat the following ten tips to prevent credit card fraud:o
shown that although credit card companies reimburseEven if it is a bit of a bother, always insist on the
90 percent of consumers whose cards have beenmailing address, postal or zip code and phone number
used fraudulently, more than 75% of internetof the buyer and verify them before closing the
merchants who are credit card fraud victims have totransaction.o Always ask for a faxed customer
bear the cost themselves. Keeping this in mind, it hassignature as well as a faxed Xerox or photocopy of
to be said that in spite of the rapid growth ofthe credit card.o Check the provided email address
e-commerce, online payment still remains an area ofagainst the name on the credit card and if the name
immaturity and major concern for the internet industry,on the card doesn't match the email then it's best to
especially since there is no surefire way eliminatingask for further ID confirmation before proceeding.o
credit card fraud.Don't process the order unless you are able to directly
Though a majority of the buyers rightly stay awaycontact the buyer by phone.o Make full use of various
from online credit card transactions as far as possible,address verification services wherever possible.o Be
it is the online merchants who have to bear the bruntextra cautious when shipping overseas especially
of this problem. Why? Simply because currentsince it can be much harder to pursue claims
reimbursement and payment protocols are intendedinternationally.o Reject process orders from free email
only for face to face transactions where thedomains unless you have irrefutable proof of the
cardholder and card are physically present and thecustomer's identity.o Check the DNS cable of the
sale occurs based on the cardholder's signature andremote IP of the buyer and use this information to find
card imprint. This way there's a certain amount ofout the remote server's geographic area and check it
security available to both the merchant and theagainst the address of the buyer. Very few people
consumer and trust is less of an issue. On the otherconnect to the internet using a long distance phone call.
hand, when it comes to online credit card transactionsAlso, verify the mailing address, email and phone
run through an internet merchant account, the deal is anumber of the server since hackers can easily set up
blind one since neither the cardholder or merchanttheir own servers as well.o Be extremely wary of
representative is physically present, which means thatbuyers asking for higher priced fast delivery or those
the primary responsibility of ensuring a "safe" deal fallsbeing otherwise cost insensitive, simply because a thief
on the merchant even if they have acquiredwon't care about the prices as they won't have to
authorization from the card issuer.pay.o Never ship products to postal box numbers and
For the consumer, the best way to avoid becoming aalways ask for a physical shipping address.
victim is to use virtual card numbers when shoppingSo if you own an internet merchant account and you
online and make sure they buy only from thosetake care and follow the above steps, you'll go a long
websites which are secure and encrypt paymentway towards preventing your business from suffering
information in order to keep it secure from hackersthe excessive chargebacks that accompany credit
and thieves.cards fraud.
Again this means that the onus to prevent credit card